Money - the great sinking feeling
nice one birdlady
debt is nothing more than zeros on a bank balance.. it can be managed
remember life is for living and do it well
i know plenty of sensible well off famillies, parents with mortgage free properties, money in the bank... they never took risk...did they enjoy fulfillment in their lifes..... maybe ,maybe NOT
I am 26 single, in debt to 25,000 no house, no car, lost my girlfriend and a load of mates through getting my CPL.FI
was it worth it... it is hard at times especially when my schoolfriends live with their girlfriends in flat and drive nice cars and are out on the piss every weekend and off to nice places on holidays..... but will they still have the same grin on their face when they go into their office in 35 years time, the same grin i had today when flying a PA28 out of Cardiff on an instructor checkout.. the same grin I WILL have in 25 years time be it on my B747 or my PA28...
Life is what you make of it.. so enoy it
Spitty
debt is nothing more than zeros on a bank balance.. it can be managed
remember life is for living and do it well
i know plenty of sensible well off famillies, parents with mortgage free properties, money in the bank... they never took risk...did they enjoy fulfillment in their lifes..... maybe ,maybe NOT
I am 26 single, in debt to 25,000 no house, no car, lost my girlfriend and a load of mates through getting my CPL.FI
was it worth it... it is hard at times especially when my schoolfriends live with their girlfriends in flat and drive nice cars and are out on the piss every weekend and off to nice places on holidays..... but will they still have the same grin on their face when they go into their office in 35 years time, the same grin i had today when flying a PA28 out of Cardiff on an instructor checkout.. the same grin I WILL have in 25 years time be it on my B747 or my PA28...
Life is what you make of it.. so enoy it
Spitty
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Spitty.....
L - Live
I - It
F - Fully and
E - Enjoy!!!!!!!
This is what its all about. And as for no car, nice holidays etc..... do you really care when you can get up every morning with a smile on your face and cant wait to get into your office - the "cockpit" of a PA28.
BL
L - Live
I - It
F - Fully and
E - Enjoy!!!!!!!
This is what its all about. And as for no car, nice holidays etc..... do you really care when you can get up every morning with a smile on your face and cant wait to get into your office - the "cockpit" of a PA28.
BL
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I have to say the only thing that has impedded me over the years in regard to flying has been money.
I himmed and hawwed over the PPL and one day just said "f*** it" and went to the bank and got a loan to cover a month in Florida....
That particular debt has increased as I have moved on (albeit gradually) through my training, but I am not prepared to borrow any further...
I took advantage of the crazy house prices in Dublin and made it work in my favour.
I really pushed the boat out and bought a house 2years ago, sold it, made some dosh, paid off a few debts, had a deposit for a new place and plan to do that all again to get the money to fund the CPL, Multi/IR...a pain in the @rse, but it's a sacrifice that i feel i have to make to get to where i want to be...
You just have to do what you have to do...
In an ideal world, I would like to be flying for an airline at this point, but as I always say, life has a funny knack of getting in the way of the best laid plans!!!
A lot of us on these forums are not lucky enough to have a wealthy background and it is such a struggle, but I think the satisfaction at the end of the day will be fantastic...
I think the one thing I would say to any prospective pilot is,
make a plan and try ur best to stick to it...
If you cant get ur hands on the 12zillion quid it costs to get ur frozen ATPL, then do it gradually, pay for it bit by bit and structure a financial plan around that...
in retrospect, i wish i had been more organised...
Now i face the dilemma of not being able to get a block of time off work to get the flying finished....lol
ah well....
I himmed and hawwed over the PPL and one day just said "f*** it" and went to the bank and got a loan to cover a month in Florida....
That particular debt has increased as I have moved on (albeit gradually) through my training, but I am not prepared to borrow any further...
I took advantage of the crazy house prices in Dublin and made it work in my favour.
I really pushed the boat out and bought a house 2years ago, sold it, made some dosh, paid off a few debts, had a deposit for a new place and plan to do that all again to get the money to fund the CPL, Multi/IR...a pain in the @rse, but it's a sacrifice that i feel i have to make to get to where i want to be...
You just have to do what you have to do...
In an ideal world, I would like to be flying for an airline at this point, but as I always say, life has a funny knack of getting in the way of the best laid plans!!!
A lot of us on these forums are not lucky enough to have a wealthy background and it is such a struggle, but I think the satisfaction at the end of the day will be fantastic...
I think the one thing I would say to any prospective pilot is,
make a plan and try ur best to stick to it...
If you cant get ur hands on the 12zillion quid it costs to get ur frozen ATPL, then do it gradually, pay for it bit by bit and structure a financial plan around that...
in retrospect, i wish i had been more organised...
Now i face the dilemma of not being able to get a block of time off work to get the flying finished....lol
ah well....
when i said QUOTE
" debt is nothing more than zeros on a bank balance.. it can be managed " i meant it literally
my next door neighbour, nice girl about 32 years old, 2 children, lost her husband couple years ago in a car accident. Last month she was diagnosed with a brain tumour, she may not see Christmas..
That is not manageable !
Get where i am coming from
" debt is nothing more than zeros on a bank balance.. it can be managed " i meant it literally
my next door neighbour, nice girl about 32 years old, 2 children, lost her husband couple years ago in a car accident. Last month she was diagnosed with a brain tumour, she may not see Christmas..
That is not manageable !
Get where i am coming from
Last edited by spitfire747; 9th Aug 2004 at 17:14.
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spitfire, I think where you're coming from is using an extreme case to justify your own point of view.
Yes, a carefully planned loan can be 'managed' if income can support it.
'Debt', on the other hand, will invariably lead to a fairly miserable existence.
Just trying to temper the enthusiasm with a little hard reality.
Yes, a carefully planned loan can be 'managed' if income can support it.
'Debt', on the other hand, will invariably lead to a fairly miserable existence.
Just trying to temper the enthusiasm with a little hard reality.
Thread Starter
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Spitfire and Maximum,
My experience as a financial consultant leads me to draw the distinction between affordable credit and adverse debt.
I recently had a client who took out a £10k loan to buy her husband a mobility scooter. He then died last Friday and all of his debt has become her responsibility on top of this £10k personal liability. Her only income is the state pension and I am now in the process of declaring her bankrupt. Worst of all, she's a nice old lady who has respected the value of money and stood by its maxims all her life. Unfortunately, her husband needed a scooter to get around and, without it, his quality of life would have been destroyed. This kind of situation couldn't wait five years while they saved up.
Nobody likes to be in debt but, without debt, people wouldn't be able to buy houses and they'd be driving D-reg Fiestas until they were about to draw a pension.
In a perfect world, we could all save up the pounds before buying what we needed and never end up owing money to anyone. But surely one of the key purposes of a bank loan is that, instead of having to wait years or even decades, you can have it now at a price? With mortgages, you get your house, the bank makes a killing but everyone is more or less happier for it.
Well, almost always. If you have enough to afford repayments yet still live in relative comfort, you are in a credit agreement which will probably work out in your favour from a practical perspective. But, if you don't have the cash to cough up, you will be screwed.
Regardless of whether you have a loan for a new Audi or an IR, sometimes you can't wait ten years (even more true if you are trying to cut it in the aviation industry where age can be a considerable factor in recruitment).
Perhaps I am making obvious points but I felt this debt issue needed some lucidity. Both of you are right in thinking that a) debt ain't a breeze but b) there are many many worse things in life than owing a bank some money.
Captain Ratpup
My experience as a financial consultant leads me to draw the distinction between affordable credit and adverse debt.
I recently had a client who took out a £10k loan to buy her husband a mobility scooter. He then died last Friday and all of his debt has become her responsibility on top of this £10k personal liability. Her only income is the state pension and I am now in the process of declaring her bankrupt. Worst of all, she's a nice old lady who has respected the value of money and stood by its maxims all her life. Unfortunately, her husband needed a scooter to get around and, without it, his quality of life would have been destroyed. This kind of situation couldn't wait five years while they saved up.
Nobody likes to be in debt but, without debt, people wouldn't be able to buy houses and they'd be driving D-reg Fiestas until they were about to draw a pension.
In a perfect world, we could all save up the pounds before buying what we needed and never end up owing money to anyone. But surely one of the key purposes of a bank loan is that, instead of having to wait years or even decades, you can have it now at a price? With mortgages, you get your house, the bank makes a killing but everyone is more or less happier for it.
Well, almost always. If you have enough to afford repayments yet still live in relative comfort, you are in a credit agreement which will probably work out in your favour from a practical perspective. But, if you don't have the cash to cough up, you will be screwed.
Regardless of whether you have a loan for a new Audi or an IR, sometimes you can't wait ten years (even more true if you are trying to cut it in the aviation industry where age can be a considerable factor in recruitment).
Perhaps I am making obvious points but I felt this debt issue needed some lucidity. Both of you are right in thinking that a) debt ain't a breeze but b) there are many many worse things in life than owing a bank some money.
Captain Ratpup
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Perspective
I am about 3/4 way through an OATS course and left a reasonably well paid job at 34 to start down this road. My parents haven't much money so I have borrowed the whole course fees secured on my house equity. I am living off my working wife and a redundancy pay out. In total with pre-existing debts etc I owe around £70 000 and have around £10 000 in savings and around £150 000 in equity. I'm heaps worse off than I was but I'm also heaps happier!!
I have tried to keep things in perspective - £70 000 is a lot of debt but it's akin to a very small mortgage, it's less than many small businessmen invest in a shop or something and it isn't much for a lifetime career. If I fly for 20 years it equates to around £4000 a year which is a price worth paying for happiness.
I'd urge all of you to read a book called 'What Should I do with my life' by Po Bronson - it helped me a lot.
Keep the debts in perspective and think about getting into property - houses in this country have gone up so much in recent years they have allowed some of us to fulfill our ambitions. Even if property prices stagnate for the next couple of years at least the place is yours. If you rent you're just paying someone else's mortgage.
Hope this helps,
Jonathan
I have tried to keep things in perspective - £70 000 is a lot of debt but it's akin to a very small mortgage, it's less than many small businessmen invest in a shop or something and it isn't much for a lifetime career. If I fly for 20 years it equates to around £4000 a year which is a price worth paying for happiness.
I'd urge all of you to read a book called 'What Should I do with my life' by Po Bronson - it helped me a lot.
Keep the debts in perspective and think about getting into property - houses in this country have gone up so much in recent years they have allowed some of us to fulfill our ambitions. Even if property prices stagnate for the next couple of years at least the place is yours. If you rent you're just paying someone else's mortgage.
Hope this helps,
Jonathan
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There are many ways to skin a cat, as the saying goes. As WWW has posted many times, you can achieve an fATPL for around 35K if you buy and budget carefully, and work hard enough not to require any remedial training! Taking the modular route, it's possible to continue working while using leave (unpaid if necessary) to do the compulsory attendance courses. Sure, you might have to give up the 50k job and work part time on building sites or whatever, but it's in the cause of trying to achieve the life you want, isn't it?
If you live in London and you don't earn a lot, get out! Your living expenses will make it very difficult to release enough cash to save towards anything else, let alone an ATPL course. There are plenty of cheaper places to live, and jobs do exist outside London!
If you have property, great - you're lucky that the surge in the market over the last 5 years may well fund your training. But I'd caution against anyone attempting to start down that route now. The property market is at, or near, its cyclical high, and there aren't the profits to be made that there were (unless you are a professional property person). Property values are likely to stagnate, or even fall, over the next few years, while interest rates are rising - though probably not too high. You are not going to fund anything from an asset that does not appreciate while costing you more to own!
There are loans available for your training - check out the HSBC threads of a few months ago. The jobs market is improving markedly. Even Ryanair is likely to have to change its MO under the combined pressure of the market and the pilots' likely move to BALPA and IALPA. Earnings for most pilots are likely to increase healthily as the overall market improves - and you can tell the bank that, as an example, earnings at Virgin Atlantic have improved by over 22% this year alone.
At the end of the day, it's down to how much you want it. If you really want it, you won't be put off by girlfriends, parents, living situations, or even debt. However, while the relationship difficulties can be patched up (or brushed off), debt must be managed, so be careful!
Scroggs
If you live in London and you don't earn a lot, get out! Your living expenses will make it very difficult to release enough cash to save towards anything else, let alone an ATPL course. There are plenty of cheaper places to live, and jobs do exist outside London!
If you have property, great - you're lucky that the surge in the market over the last 5 years may well fund your training. But I'd caution against anyone attempting to start down that route now. The property market is at, or near, its cyclical high, and there aren't the profits to be made that there were (unless you are a professional property person). Property values are likely to stagnate, or even fall, over the next few years, while interest rates are rising - though probably not too high. You are not going to fund anything from an asset that does not appreciate while costing you more to own!
There are loans available for your training - check out the HSBC threads of a few months ago. The jobs market is improving markedly. Even Ryanair is likely to have to change its MO under the combined pressure of the market and the pilots' likely move to BALPA and IALPA. Earnings for most pilots are likely to increase healthily as the overall market improves - and you can tell the bank that, as an example, earnings at Virgin Atlantic have improved by over 22% this year alone.
At the end of the day, it's down to how much you want it. If you really want it, you won't be put off by girlfriends, parents, living situations, or even debt. However, while the relationship difficulties can be patched up (or brushed off), debt must be managed, so be careful!
Scroggs
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Yeah I think everyone in this position can't help but think, why the hell am I doing this? and then just keep going, coz it's what you really want to do.
Personally, I've sometimes wondered if I'm crazy. I have a degree in business, so i could easily go get a boring office job, earn good money, buy an investment unit, get married and cheat on my wife. Instead, I'm trekking around Africa in search of that elusive 200hr flying job with a mountain of debt. But you know what? I'm glad I'm doing something exciting with my life and, eventually, when I'm sitting in the cockpit of the 747 as the sun rises, I will look fondly back at all of this and realize that it's worth it in the end (I like to think so anyway).
So just keep pluggin away (as I'm sure you're tired of hearing) and don't regret anything. I've met many people with regular jobs who wish they could be in my position.
Cheers
Personally, I've sometimes wondered if I'm crazy. I have a degree in business, so i could easily go get a boring office job, earn good money, buy an investment unit, get married and cheat on my wife. Instead, I'm trekking around Africa in search of that elusive 200hr flying job with a mountain of debt. But you know what? I'm glad I'm doing something exciting with my life and, eventually, when I'm sitting in the cockpit of the 747 as the sun rises, I will look fondly back at all of this and realize that it's worth it in the end (I like to think so anyway).
So just keep pluggin away (as I'm sure you're tired of hearing) and don't regret anything. I've met many people with regular jobs who wish they could be in my position.
Cheers
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Hi d_devilliers
Job searching in Africa are we. Hows that going? Im curious because Ive almost completed my hour building here and am considering going back to Ireland to do JAA CPL. However, I would like to stay here if there are possibilities of jobs. Where are you looking and how sucessful have you been? I presume with a surname like yours - your originally South African? Please if you could keep me posted it would be greatly appreciated. Pm me if possible.
THANKS
BL
Job searching in Africa are we. Hows that going? Im curious because Ive almost completed my hour building here and am considering going back to Ireland to do JAA CPL. However, I would like to stay here if there are possibilities of jobs. Where are you looking and how sucessful have you been? I presume with a surname like yours - your originally South African? Please if you could keep me posted it would be greatly appreciated. Pm me if possible.
THANKS
BL
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Hello! Sorry to bring an 'old' topic up on page 2 but this was a very interesting read!
Im in a similar kinda boat to be honest, and Im new on this site.
Reading your orignal post captain, it does make you think that is it all worth it just to fly a plane for a living? Borrowing 50k off a bank just for a career is a boit extreme, especially when u arent guaranteed a job by a long shot.
The Ex-Copper you mentioned earlier who left his 35k a year job and is now earning 15k as an instructer, does he surely think it was all worth it?
I myself earn 17k a year in my new job, owe 4 grand on the old plastic, 17k consolidation loan to barclaycard, 4k on my car. plus rent of 475 per month, so of a take home pay of approx 1100, i pay out 850. BUt ive got 2 loans of a combined 16k available to me.
I can afford to pay cash with part of my loan for a PPL, Im in two minds whether to do it or, buy a new car!
Im not sure if it is all worth it! I suppose it depends greatly about whether you will get an airline job. I mean look at the ex-copper, i wouldnt like to be doing what he's doing for very long.
Thing is, when yer moneys gone, its gone! Its ok if you are a lotto winner and can afford it comfortably with no loan repayments or pressure to pay back the bank or have to work to pay it off, like is often the case with self funded pilots.
I reckon what you seriously have to think about is, of all the people who have followed thier dreams and successfully got pilot jobs for thier effort and determination, how many ended up not getting a job, still cant get a job, and have a mountain of debt to worry about.
Ps, forgot to mention... For those of you chasing their dreams, or worry about your dream slipping away, the age factor isnt really an issue. I read of a woman who was in her 40,s who gave up her old job and became a pilot, at that age stage you still have 20 years service to give an airline.
A lot of people say "you can achieve anything you want to if you work hard enough or want it enough" But that isnt strictly true. There are also a number of "Limiting Factors" that stop you from doing certain things.
For example:
* Not being able to pay back a 50k loan, or secure one in the first place, due to lack of sufficient status/ collateral etc.
* Not having the mental ability or skill to become a pilot.
and other limiting factors in other industries:
* Every footballer who playes in Amatuer Football, isnt going to play in the Premiership, no matter how badly they want it.
* Every muscian who plays a guitar is gonna get a record contract, and be on TV
* Every one who owns a corner shop, isnt gonna be the next richard branson.
People badly want to become pilots (including me) but it aint neccesarily gonna happen due to the limiting factors!
Forget these dreams of sailing off into the sun one day ina 747, like ive heard a lot of you say. you need to deal with the hard facts!
Im in a similar kinda boat to be honest, and Im new on this site.
Reading your orignal post captain, it does make you think that is it all worth it just to fly a plane for a living? Borrowing 50k off a bank just for a career is a boit extreme, especially when u arent guaranteed a job by a long shot.
The Ex-Copper you mentioned earlier who left his 35k a year job and is now earning 15k as an instructer, does he surely think it was all worth it?
I myself earn 17k a year in my new job, owe 4 grand on the old plastic, 17k consolidation loan to barclaycard, 4k on my car. plus rent of 475 per month, so of a take home pay of approx 1100, i pay out 850. BUt ive got 2 loans of a combined 16k available to me.
I can afford to pay cash with part of my loan for a PPL, Im in two minds whether to do it or, buy a new car!
Im not sure if it is all worth it! I suppose it depends greatly about whether you will get an airline job. I mean look at the ex-copper, i wouldnt like to be doing what he's doing for very long.
Thing is, when yer moneys gone, its gone! Its ok if you are a lotto winner and can afford it comfortably with no loan repayments or pressure to pay back the bank or have to work to pay it off, like is often the case with self funded pilots.
I reckon what you seriously have to think about is, of all the people who have followed thier dreams and successfully got pilot jobs for thier effort and determination, how many ended up not getting a job, still cant get a job, and have a mountain of debt to worry about.
Ps, forgot to mention... For those of you chasing their dreams, or worry about your dream slipping away, the age factor isnt really an issue. I read of a woman who was in her 40,s who gave up her old job and became a pilot, at that age stage you still have 20 years service to give an airline.
A lot of people say "you can achieve anything you want to if you work hard enough or want it enough" But that isnt strictly true. There are also a number of "Limiting Factors" that stop you from doing certain things.
For example:
* Not being able to pay back a 50k loan, or secure one in the first place, due to lack of sufficient status/ collateral etc.
* Not having the mental ability or skill to become a pilot.
and other limiting factors in other industries:
* Every footballer who playes in Amatuer Football, isnt going to play in the Premiership, no matter how badly they want it.
* Every muscian who plays a guitar is gonna get a record contract, and be on TV
* Every one who owns a corner shop, isnt gonna be the next richard branson.
People badly want to become pilots (including me) but it aint neccesarily gonna happen due to the limiting factors!
Forget these dreams of sailing off into the sun one day ina 747, like ive heard a lot of you say. you need to deal with the hard facts!
Last edited by Iceman1976; 18th Oct 2004 at 16:58.
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What a great thread. Its amazing what we all will go through to get one of the best office views in the world.
Im in a similar sort of debt Owing about £25K to the HSBC bank. They do offer a fairly good rate for people who want to become pilots.
I've taken the modular route and not regretted one moment of it. Except not doing it a little sooner perhaps
Was instructing at the now defunct CWFC (which is mentioned in another link) but have at least reached over the 1000 hour mark.
Now have the dilema of whether to hold off and wait for that elusive right hand seat or pay another £18k for a type rating?
.
I suppose the question is DO You Feel Lucky Punk
Would be interesting to hear from anyone who has paid for their type rating as to whether they got a job after it?
Im in a similar sort of debt Owing about £25K to the HSBC bank. They do offer a fairly good rate for people who want to become pilots.
I've taken the modular route and not regretted one moment of it. Except not doing it a little sooner perhaps
Was instructing at the now defunct CWFC (which is mentioned in another link) but have at least reached over the 1000 hour mark.
Now have the dilema of whether to hold off and wait for that elusive right hand seat or pay another £18k for a type rating?
.I suppose the question is DO You Feel Lucky Punk
Would be interesting to hear from anyone who has paid for their type rating as to whether they got a job after it?
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Iceman1976, you already owe 25k (I assume some of this is student debt?) on an income of 17k - and you want to borrow up to 16k more!? Jeez, you already have debts twice the size of mine and I'm on over 4 times your salary - and I worry! And your rent would get you a good sized mortgage.
If by borrowing you are helping to increase your potential wages in the future, you can consider it as an investment and therefore justifiable, as long as the repayments are affordable on what you can expect to earn in the near future. Saddling yourselves with unnecessary debt for things which will earn you nothing - like a too-expensive, image-enhancing car instead of a 500-quid banger - will just detract from your ability to finance your future, and must be regarded as pretty dumb.
Scroggs
If by borrowing you are helping to increase your potential wages in the future, you can consider it as an investment and therefore justifiable, as long as the repayments are affordable on what you can expect to earn in the near future. Saddling yourselves with unnecessary debt for things which will earn you nothing - like a too-expensive, image-enhancing car instead of a 500-quid banger - will just detract from your ability to finance your future, and must be regarded as pretty dumb.
Scroggs
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Choices
The thing I wrestled with, given that I am going to fund my training from the equity in my pad, is whether I want a hobby or a job.
So, do you want to fly, or do you want a job flying?
My 35K ish to get fatpl plus living costs will actually get me my PPL, more hours/ratings on top, and a share of an a/c.
I also get to keep the well-paid job I have at the moment and my wife can stop biting her fingernails and worrying about me pawning the kids...
The bottom line for me is the 'how do I feel?' test. I imagine myself doing my current job at the age of 55 and I feel - sick to my stomach.
So I want a job.
Same for everyone?
HF
So, do you want to fly, or do you want a job flying?
My 35K ish to get fatpl plus living costs will actually get me my PPL, more hours/ratings on top, and a share of an a/c.
I also get to keep the well-paid job I have at the moment and my wife can stop biting her fingernails and worrying about me pawning the kids...
The bottom line for me is the 'how do I feel?' test. I imagine myself doing my current job at the age of 55 and I feel - sick to my stomach.
So I want a job.
Same for everyone?
HF
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same boat
Well it would seem we all have the same worries, if's and buts going on in our heads. If we were all to be sensible, then not one of us would follow this path, unless we were naturally gifted flyers with an astute knowledge of all that is theoretically linked to aviation and a dad working as chairman of one of the majors.
My new approach to all of this is to do it bit by bit, step by step and work as best I can in the mean time, in order to reduce the debt to a maximum. If I fail at any step, which is always possible, then I will still have a job which bores me to tears but I will have an income and be able to support myself, semi-happy in the knowledge that I gave it a shot. Sure a lot of money will be spent and wasted along the way if the goal isn't reached, but maybe trying is more important? I honestly can't see myself in the rhs of a 737 RIGHT NOW, sitting in a 152 looking at 12 to 15months study for the ATPL's, but maybe the dream will appear more attainable having passed the exams and half way through the IR?
So going at this in sections may not be the quickest or the most cost effective, but it is somewhat safer, so I keep telling myself.
I am 35 and if I was 21 then yes, launching myself headfirst would seem sensible, but alas, I am not! So now it's going to be my best efforts to get there, but I am only looking as far as the next step. Who know's maybe one day I will be at 30,000 and not a 3,000, but I am not going to worry too much about it, or else I will never do it. I just wish there wasn't so many of us with the same bloody ambition!
Later boys and girls and those of us old enough to know better.
KB
My new approach to all of this is to do it bit by bit, step by step and work as best I can in the mean time, in order to reduce the debt to a maximum. If I fail at any step, which is always possible, then I will still have a job which bores me to tears but I will have an income and be able to support myself, semi-happy in the knowledge that I gave it a shot. Sure a lot of money will be spent and wasted along the way if the goal isn't reached, but maybe trying is more important? I honestly can't see myself in the rhs of a 737 RIGHT NOW, sitting in a 152 looking at 12 to 15months study for the ATPL's, but maybe the dream will appear more attainable having passed the exams and half way through the IR?
So going at this in sections may not be the quickest or the most cost effective, but it is somewhat safer, so I keep telling myself.
I am 35 and if I was 21 then yes, launching myself headfirst would seem sensible, but alas, I am not! So now it's going to be my best efforts to get there, but I am only looking as far as the next step. Who know's maybe one day I will be at 30,000 and not a 3,000, but I am not going to worry too much about it, or else I will never do it. I just wish there wasn't so many of us with the same bloody ambition!
Later boys and girls and those of us old enough to know better.
KB
Join Date: Jun 2004
Location: Manchester
Posts: 87
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I'd agree with KB and Scroggs for the most part. I'm practically ab initio on rotary and would like to go the whole hog to ATPL etc.
I made sure the finance was in place (well, most of it) before I started, and that was a struggle in itself. Now I know I can bail out at any time between £1000 and £50,000 should I need to and the only thing that will get damaged is the bank balance.
Irrespective of what anyone wants to do in life, my advice would be DO NOT RACK UP A MOUNTAIN OF DEBT. Large debts destroy peoples lives and people get into large debt very often because they will not accept what is staring them in the face - you can't do it or you can't have it.
I know that sounds very negative, but it's also reality. By all means borrow, but not until such time as it becomes an albatross that will weigh you down for the rest of your life. Scroggs is absolutely right.
It's like failing a Class 1 medical - doesn't matter how hard you want it, you have to accept the reality and work around it or with it somehow. The same is true of financing albeit slightly blurred at the edges.
I made sure the finance was in place (well, most of it) before I started, and that was a struggle in itself. Now I know I can bail out at any time between £1000 and £50,000 should I need to and the only thing that will get damaged is the bank balance.
Irrespective of what anyone wants to do in life, my advice would be DO NOT RACK UP A MOUNTAIN OF DEBT. Large debts destroy peoples lives and people get into large debt very often because they will not accept what is staring them in the face - you can't do it or you can't have it.
I know that sounds very negative, but it's also reality. By all means borrow, but not until such time as it becomes an albatross that will weigh you down for the rest of your life. Scroggs is absolutely right.
It's like failing a Class 1 medical - doesn't matter how hard you want it, you have to accept the reality and work around it or with it somehow. The same is true of financing albeit slightly blurred at the edges.
